RISK ANALYSIS AND MANAGEMENT IN BUSINESS

Authors

  • Dr. Asim Iqbal Associate Professor, Department of Business Administration Lahore University of Management Sciences (LUMS), Lahore, Pakistan

DOI:

https://doi.org/10.66238/smsrj.v2i2.18

Keywords:

Risk Analysis, Risk Management, Business Strategy, Risk Mitigation, Business Risk, Operational Risk, Financial Risk, Strategic Risk, Risk Assessment, Risk Frameworks

Abstract

Risk analysis and management are crucial components of modern business strategies, enabling organizations to identify, assess, and mitigate potential threats to their operations, assets, and reputation. This article explores the principles, methodologies, and best practices for risk analysis and management in business settings. Through a comprehensive review of various risk management frameworks, it highlights how businesses can effectively navigate uncertainties and safeguard their interests. The study examines key types of business risks—including financial, operational, strategic, and compliance risks—and provides insights into risk identification, assessment tools, and mitigation strategies. The article also explores the role of technology, data analytics, and organizational culture in enhancing risk management processes and ensuring long-term business success.

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Published

2024-12-31

Issue

Vol. 2 No. 2 (2024)

Section

Articles

License

Copyright (c) 2024 SOCIAL AND MANAGEMENT SCIENCES RESEARCH JOURNAL

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This work is licensed under a Creative Commons Attribution 4.0 International License.

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